Lyft Follows Huge Funding Round by Cutting Rates in All U.S. Cities

Lyft is out to grab a bigger share of the market and it will forgo making any money in order to get it.

— Jason Clampet

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Once again, alternative-cab service Lyft is trying to woo people by charging less money to pick them up and drop them off in pink-mustachioed vehicles.

The mobile-enabled service is trying out lower prices in all U.S. cities where it operates, with discounts of as much as 20 percent, according to a company blog post.

Apparently, a huge funding round will do that to you. Lyft announced $250 million in new funding just a few days ago, and now it can experiment with ways to entice new people to use the service and keep previous customers coming back.